NEWS FROM THE FIELD
Saskatchewan companies
to get more support as
Export Development
Canada opens new office
Export Development Canada (EDC) recent-ly
announced the opening of a new office in
Saskatoon that will bring EDC’s financing
and risk mitigating solutions closer to busi-nesses
in northern Saskatchewan.
The Saskatchewan exporting story
Saskatchewan currently exports 70 per cent
of what is produced – that’s a big number.
There is an estimated 2,100 direct export-ers
in the area and more than 800 indirect
exporters – Canadian companies that are
not currently exporting but that sell goods
or services to a Canadian company or sup-ply
chain and will be sold outside Canada.
EDC recognizes that more direct resourc-es
are required in this region as there are
1,450 companies deemed “ready to export,”
meaning they plan to export within one to
two years. With over $32.5 billion in exports
volume in 2016, Saskatchewan’s trade with
international markets have been growing
and EDC intends to play a leading role in
unlocking more of the region’s significant
trade potential.
“EDC’s investment in Saskatchewan is
really about tapping into the deep pool of
dynamic, trade-minded companies in the
area and providing them with more hands-on
service,” said Mark Livingston, EDC’s re-gional
vice-president.
The potential for trade-related busi-ness
growth in the region is particularly
evident in sectors like mining and oil and
gas supply chain, agriculture (commodi-ties,
equipment, food processing), biotech-nology
– all products and services that are
in high demand globally. EDC has seen a
marked increase in the amount of business
undertaken by its customers in these sec-tors,
which helped influence the decision to
open this new office.
“We want to act as a catalyst to encour-age
and equip companies with what they
need to grow and succeed international-ly,”
said Livingston. “Saskatchewan-based
companies, particularly in the north, are al-ready
exporting heavily into the U.S. market
but EDC can help them tap into demand-rich
markets like China and India quickly,
and with less risk.”
In addition, the presence of major fi-nancial
institutions in the region will al-low
EDC to help more Saskatoon-based
companies get the support they need. EDC
partners with banks, sharing risks on com-mercial
terms, to ensure that customers
can access financial solutions best suited to
their needs.
“Some very dynamic exporters in
Canada are headquartered in and around
Saskatoon, with most of them being small-and
medium-sized businesses,” said Kyle
Reid, account manager for Saskatoon at
EDC. “Their needs can be complex, and our
intention is to have our finger on the pulse
of their business by being part of the com-munity.
The more we understand their busi-ness
and growth opportunities, the easier it
will be to create solutions that are uniquely
tailored to their day-to-day reality.”
This initiative is part of EDC’s broader
growth strategy, domestically and abroad,
to help more Canadian companies export
and invest internationally.
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